Aprotic Solvents Share, Growth Analysis And Revenue Forecast 2024 To 2033

The aprotic solvents market size has grown marginally in recent years. It will grow from $20.27 billion in 2023 to $20.59 billion in 2024 at a compound annual growth rate (CAGR) of 1.6%. The growth in the historic period can be attributed to chemical manufacturing growth, industrial solvent usage, polymer and resin production, growing automotive sector, electronics manufacturing.

The aprotic solvents market size is expected to see steady growth in the next few years. It will grow to $22.4 billion in 2028 at a compound annual growth rate (CAGR) of 2.1%. The growth in the forecast period can be attributed to growth in pharmaceutical industry, supply chain dynamics, regulatory shifts, global manufacturing trends. Major trends in the forecast period include innovation in paints and coatings, focus on green chemistry, advancements in lithium-ion batteries, focus on green solvents.

Market Overview -
An aprotic solvent is a solvent with no hydrogen bonding, in which the proton is neither donated nor accepted (hydrogen). A solvent is a chemical compound in which a solute is dissolved. Solvents can be gaseous, solid, or liquid.

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Increasing Infrastructural And Construction Activities
The growing infrastructural and construction activities are expected to boost the growth of the aprotic solvents market going forward. Infrastructural and construction activities are increasing due to rising population, economic growth, and rising urbanization. Aprotic solvents are used in adhesives and sealants, paints, and coatings to improve the adhesion between the polymer matrix and the fiber surface during construction. For instance, in October 2021, according to Oxford Economics, a France-based advisory firm, global construction output was expected to grow by 42% in terms of volume to reach 15.2 trillion by 2030. The United States, China, India, and Indonesia together account for 58.3% of global growth in construction. Therefore, the growing infrastructural and construction activities are driving the growth of the aprotic solvents market.

Competitive Landscape -
Major companies operating in the aprotic solvents market report are BASF SE, Eastman Chemical Company, Royal Dutch Shell plc, Ineos Chemicals Company, Celanese Corporation, DuPont de Nemours Inc., AlzChem AG, Asahi Kasei Corporation, Imperial Chemical Industries Ltd., Mitsubishi Chemicals Corporation, Nanjing Jinlong Chemical Co. Ltd., Ashland Global Holdings Inc., CNPC Jilin Chemical Group Co. Ltd., China National Petroleum Corporation, Merck Co. & KGaA, Dow Inc., Mitsui Chemicals Inc., Gaylord Chemical Company LLC, Finar Limited, Thermo Fisher Scientific Inc., Sigma-Aldrich Corporation, Avantor Performance Materials LLC, Honeywell International Inc., Solvay SA, Arkema SA, Huntsman Corporation, LyondellBasell Industries N.V., Sinopec Shanghai Petrochemical Company Limited, ExxonMobil Chemical Company, Chevron Phillips Chemical Company LLC, LG Chem Ltd., Sumitomo Chemical Co. Ltd., Toray Industries Inc., Ube Industries Ltd., Wacker Chemie AG

Ineos Unveils Innovative Inviridis Brand, Redefining Aprotic Solvents Market With Bio-Attributed Phenol
Product innovations are a key trend in gaining popularity in the aprotic solvents market. Major companies operating in the aprotic solvents market are focused on developing innovative solutions to strengthen their position in the market. For instance, in June 2022, INEOS Group Limited, a UK-based global chemicals company, developed its first bio-attributed phenol, the acetone alpha-methylstyrene (AMS) product line. These items, which are created without the use of fossil fuels as a feedstock, will be offered under the INVIRIDIS brand. They are an example of innovation in the global phenol market, providing a more environmentally friendly and sustainable alternative to conventional phenol, acetone, or AMS. INVIRIDIS is created from bio-attributed cumene, which allows for the substitution of fossil fuel resources. INVIRIDIS is expected to have numerous value-added applications across a range of industry sectors, including highly specialized end-uses such as automotive, construction, home improvement, electronics, and healthcare.

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Key Segments -

The aprotic solvents market covered in this report is segmented -

1) By Type: N-Methyl-2-Pyrrolidone (NMP) , Toluene, Benzene, Acetone, Other Types
2) By Source: Bio-Based, Synthetic
3) By Application: Oil And Gas, Plastics, Pharmaceuticals, Electronic Equipment, Paints And Coatings, Adhesives, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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